In the age of exploration, as sailors and cartographers were hard at work discovering and documenting the world, they would mark unexplored and potentially dangerous areas with the cautionary phrase “Here be dragons”. Dear readers, that’s where we are with bitcoin. We are in uncharted waters, unexplored lands, unmarked regions. We are at an all time high. However, there is little to fear, we just need to proceed with caution and prudence.
NOTE: This blog post was originally posted on June 2008 on a now-deleted website. I just could not let this piece of art slip away into the void of internet history. I found it using the Wayback Machine and am going to host it here, unedited. It’s a great read and I hope you enjoy it!
As Bitcoin seems to be hitting the bottom of this cycle’s rollercoaster ride and seemingly coasting sideways for the time being, I thought it would be a good time to recap some of my favorite ideas that relate to investing. These are ideas that I’ve used to build my conviction and plan my approach, hopefully they can be useful for you as well, dear readers.
As of a few days ago, the extent of my interaction with artifical intelligence was telling Siri to set a timer for 7 minutes when I’m boiling eggs (that’s the exact amount of time for boiling eggs, and then immediately dunk them in ice water). Then ChatGPT was released. It totally blew my mind.
The price of Bitcoin hit a new all time high of almost $20,000 USD yesterday. In this post I’ll make the case for why the upcoming bull run is inevitable.
In these times of unprecedented money printing, I thought I would compile a list of questions to ask about your money. I use dollars in the questions, but they are all equally applicable to any money.
You are selling an item to a stranger. You are willing to take quite a few payment methods, including bitcoin. The buyer wants to pay you with bitcoin. How can you verify that you actually got paid before you hand over your item? I try my best to answer in this blog.
I write this amidst a pandemic! The Coronavirus from the wet markets of China has erupted into a massive pandemic. As of this writing, the official numbers are:
1,270,069 Confirmed cases
69,309 Deaths
259,810 Recovereries
Because the lack of mass testing, these numbers are hard to trust. Since the disease can be asymptomatic, I think the actual cases are much higher. With many people not even knowing they are carrying the virus.
Over the past few months, I have been exploring the lightning network. It is a network that is built on the bitcoin network as a “second layer”. I would fail to explain lightning network since I’ve barely started on the long road of understanding it myself, but the briefest summary that captures the idea for me is that it is a routed payment channels network. I’ll leave it to others with good-er writing clarity to describe it clearly.
